Short: The Energy Trilemma

Unlock the intricacies of the "Energy Trilemma" as we explore the fine balance between energy security, affordability, and sustainability. How do we navigate the complexities of a global (and growing) energy system while striving for a cleaner, more equitable future?

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Transcript

Stewart Muir: 0:00

Hi, I'm Stuart Muir and this is Power Struggle. The world's energy system is a behemoth of staggering proportions. It's not some delicate machine that can be fine-tuned with a few policy tweaks or well-meaning pledges. No, this is a vast lumbering beast gorging itself on fossil fuels that make up four-fifths of its diet. This year we find ourselves at a critical juncture where the term energy trilemma has become a buzzword in policy circles. But what does it really mean? A friend of mine who's a bit of an expert at leadership and project management has always claimed that when it comes to managing a project, you can have something cheap, fast or good, but not all three. It can be cheap and good, but it won't be fast. It can be fast and good, but it won't be cheap. Or it could be cheap and fast, but it will not be good. To say it another way, if you focus too much on one of the points of the fast, cheap, good triangle, the other corners suffer.

Stewart Muir: 1:00

The energy trilemma is a triangle. The term refers to the challenge of balancing three goals that often conflict. One is energy security. Is it there when you need it? When you hit the switch, turn the key? Two can everyone afford the energy they need. And three, environmental sustainability. So energy security, energy equity and environmental sustainability Three goals to strive for without compromise, right? It's a Gordian knot of interconnected complexities that demand a nuanced understanding and approach. But let's break down each of the points of the triangle. One affordability, or, to put it another way, energy equity. Can everyone get it? To state the obvious, we want our energy to be affordable. Yet as we push for cleaner energy, costs can rise, impacting those who can least afford it.

Stewart Muir: 1:59

The next point of the triangle energy security. We interact with energy every single day, turning on a lamp, starting your car, riding the bus. It's only when it breaks down, or is not there, that you notice the absence of that invisible, reliable thing that powers your life. And we're the lucky ones us in developed countries, in developing parts of the world people don't take for granted the magic of easy, accessible energy. What was a minor inconvenience for me is just a part of daily life. The realities of energy security and the need for energy independence were starkly visible over the past few years in Europe, where Russia's invasion into Ukraine and the economic hostilities for political gain exacerbated an energy crisis.

Stewart Muir: 2:44

We're vulnerable if we rely too heavily on a single energy source and the third corner, environmental performance. It's talked about a lot these days, and deservedly so. It is as important as the other two points of the triangle. We all share this planet and we must be good stewards of it so that we can continue living here, maintaining our lush forests, our beautiful oceans and our breathable air. So there's our trilemma Good, fast, cheap becomes affordability, reliability and sustainability. And like the good, fast, cheap triangle, it's easier to say well, we'll be affordable and accessible, but not environmentally friendly. And we could do affordable and sustainable, but it's not going to be accessible, not yet.

Stewart Muir: 3:32

I'm an optimist. I believe in human ingenuity. A hundred years ago, people were afraid of driving faster than a horse. 30 years ago, the internet was in its infancy. Just two years ago, ai images were as simplistic as a child's drawing. Now the world's smartest people are hard at work, carving our way to a new clean energy. Future minds are finding ways of not only decreasing carbon use but actively removing carbon from the atmosphere, because to get to a true clean energy tomorrow, we can't just get to net zero. We have to get to negative carbon too.

Stewart Muir: 4:14

All the while, we can't lose sight of the other corners of the triangle. What of the developing world, where billions of people still aspire to the energy-intensive lifestyles we take for granted? Are we to tell them to hold off on developing strong energy infrastructures of their own, even while they mine the materials for our phone batteries? The moral calculus here is far from straightforward. The uncomfortable truth is that our modern civilization is built on a foundation of fossil fuels. The fertilizers that feed us, the steel and concrete that shelter us, the plastics that permeate every aspect of our lives all are children of hydrocarbons or fossil fuels.

Stewart Muir: 5:00

Decarbonizing these fundamental processes isn't just a matter of swapping out a few power plants. It requires reimagining the very fabric of our material world. The energy trilemma is not merely a technical puzzle to be solved, but a stark reminder of the trade-offs and limitations we face. It demands a clear-eyed assessment of what's possible. We must look at the equation unflinchingly, with clear eyes and open hearts. The path forward will require a lot of thought and no fear of having difficult conversations, and that is what we are going to do here Struggle with these fundamental issues and hopefully emerge with greater, more nuanced understanding. The energy trilemma is like a mirror reflecting our own contradictions and constraints, but it also reveals our ingenuity and possibility. I'm Stuart Muir and this is Power Struggle.